(antiMusic) U2 has signed a 12-year deal with Live Nation, that will hand over various aspects of U2's business to the promotion giant. But Bono and co are not putting all their eggs in the Live Nation basket.The deal reportedly includes worldwide touring, merchandising, and the band's official Web site but is not a 360-degree arrangement like Madonna's. U2 will remain with Universal Music and none of the publishing will go to Live Nation.
"It's not do-or-die that we have to have everything. We just have to have certain critical mass, and we more than have it in this deal," Michael Cohl, Live Nation chairman of the board and CEO of Live Nation Artists, told Billboard.com.
U2 manager Paul McGuinness adds, "There's a certain convergence taking place in the industry, and it's obvious that the biggest part of U2's business now is their live business, even though they're a major, major record-selling act." - a lot more details
